I'm one of those who is going to say that it is underpowered for deer, through a pistol, and marginal with a rifle. That being said, if you reload, there are some loads that have been developed specifically for the carbines that have some extra punch. And if you are uncomfortable with the heavier revolver loads, try them through a carbine- they are very managable.

As much as I dislike lever actions (it's a personal thing), the combo of a good lever carbine and revolver in .357 will be fine for most shooting needs. Not much that can go wrong with them mechanically, particularly the wheelgun; inexpensive; relatively inoffensive from a political perspective. Ammo can be fairly inexpensive, and being mechanically cycled, they are forgiving of low powered ammo. I don't think there is a wider spectrum of digestable ammo out there than for that combo.